Is there a mutual fund that follows the Russell 3000 index?

Question

I have found ETFs that follow the Russell 3000 but they are not practical for someone who wants to invest a relatively small amount of money each month. The trading fees would eat me alive. Also, taxes are not a concern because this is in a Roth IRA. I know there are plenty of funds based on the S&P 500, so please don't suggest that. Thanks in advance!

Answer 1

There may be more, but here is one:

TIAA-CREF Equity Index (ticker symbol TCEIX)

Answer 2

1

Answer 3

Try Vanguard funds. they usually have very low fees. The real question should be why you want the Russell 3000 anyhow. This will not make your porfolio any more diversified than the s&p 500 because the Russell 3000 is weighted based on market cap. meaning, the largest companies are given more weight and it includes all the companies in the s&p 500. so basically you're getting the S&P with bunch of small companies that are given very little weight.

Answer 4

http://www.claymore.com/products/MutualFundDetail.aspx?FundID=4CF52862-BE26-4F43-8291-0348858C170B

I think every mutual Fund will be like this. There are three problems with finding a tracker.

One is that it's already traded as a future index.
http://www.russell.com/Indexes/investing/futures_and_options.asp
Two is it's already tracked by ETFs with low fees.

Three is the goal of the mutual fund has to justify itself by beating the index so buying and selling has to be involved. Otherwise the mutual fund could just buy the ETF and pass the cost on to you. That's what mutual funds tracking the SP 500 do. They just buy SPY.

The above problems would suck away investors from anybody trying to create a tracker.